China: Xinhua reported that a preparatory meeting of the 18th National Congress of the Communist Party appointed Xi Jinping as the new Secretary-General of the Party.
Comment: Xi will be the new head of party and government, as expected. The Communist Party wants predictability and stability, which is why it was pleased with the outcome of the US presidential election.
Iran: On Wednesday Iran's leadership dismissed president Obama's reelection, suggesting that Tehran was not in the mood to start negotiations over its nuclear program any time soon.
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